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The analysts forecast the Global Big Data market in the Retail sector to grow at a CAGR of 33.14 percent over the period 2013-2018. One of the key factors contributing to this market growth is the exponential growth in data stored in the Retail sector. The Global Big Data market in the Retail sector has also been witnessing that social media remains a major source of data. However, the lack of talented professionals to manage big data could pose a challenge to the growth of this market.

The report, the Global Big Data Market in the Retail Sector 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market in the Americas, and the EMEA and APAC regions; it also covers the Global Big Data market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key questions answered in this report:- What will the market size be in 2018 and what will the growth rate be?- What are the key market trends?- What is driving this market?- What are the challenges to market growth?- Who are the key vendors in this market space?- What are the market opportunities and threats faced by the key vendors?- What are the strengths and weaknesses of the key vendors?

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Commenting on the report, an analyst from the team said: “Over the last few years, social media has been a major data source for retail organizations. This is because organizations can obtain instant feedback about their products and services through blogs and social networking sites. With the rapid increase in the number of social media sites, there is high demand to track user interactions on these sites. Organizations have realized the need to augment their data warehouses with external data sources. Additionally, the increased importance of sentiment analysis and advancements in text analytics are encouraging organizations to include social media in their business process. Social media increases the amount of data in enterprises; therefore, this is a positive trend in the market and it is expected to drive the growth of the Global Big Data market in the Retail sector in the coming years.”

According to the report, one of the major drivers in the market is the exponential growth in data stored by the Retail sector. Due to the presence of a large amount of data, organizations in the Retail sector need big data solutions to automatically track the performance and behavior of the information stored in their IT systems. In addition, they require data analytics to develop innovative business strategies and improve overall operational efficiency. Big data solutions help in identifying the risks and opportunities in organizations, enabling them to plan and perform accordingly.

Further, the report states that one of the major challenges is the lack of skilled workforce to manage big data. The requisite technical skills for handling big data vary from one project to another with respect to data storage and data retrieval. As a result, there is a high possibility of failure in the implementation of big data solutions. Additionally, in spite of a large number of big data projects, companies are not ready to invest in professionals with the required analytical skills for managing big data.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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